Human Capital: Nurturing a Culture of Trust for Employee Success

HUMAN CAPITAL: NURTURING A CULTURE OF TRUST FOR EMPLOYEE SUCCESS

At Piramal Enterprises Limited, our HR strategy underscores our commitment to building a future ready organisation. While we incorporate talent management, learning and development, employee engagement, agile leadership, diversity, equity & inclusion, and a plethora of other HR initiatives, we also promote a culture of open dialogue and cross functional collaboration, nurturing innovative thinking and collective success.

Our trust in our employees demonstrates our confidence in their ability to propel organisational and collective success. This trust is also reflected in how our employees trust the organisation to invest and drive their growth and development. The following are some of the features that demonstrate the unique environment of trust and partnership at Piramal Enterprises:

Values: Our Values of Knowledge, Action, Care & Impact serve as our guiding principles, propelling us to uphold our culture and drive continuous success.
Career Opportunity Programme (COP): This initiative enables employees to apply for their next career move.
Navikaran and Navroop: Our dedicated programme to enhance and improve branch infrastructure and branding to instil productivity and a sense of belonging. Over the last year, we have upgraded 146 branches, 110 under Navikaran and another 36 under Navroop.

Purpose: With a purpose of ‘Doing Well and Doing Good’, we believe that responsible and ethical business practices is the foundation of organisational growth and individual success.
Saksham: Saksham serves as a comprehensive guide to the intricate landscape of retail lending business, its products, and associated functions through specially-crafted programmes empowering campus hires and individuals to transition from non-financial backgrounds.
Prevention of Sexual Harassment: At Piramal, we stand for Zero Tolerance against any form of sexual harassment. Our POSH policy is gender-agnostic, ensuring a workplace where every member feels safe, respected and valued. This commitment is a cornerstone of our ethos at Piramal. We believe in cultivating a workplace where every voice is heard, and every person is treated with the utmost dignity and fairness.

Bring Your Buddy: Our referral programme showcases the trust we place in our employees to actively contribute to expanding our talent base.
Culture of Dashboards: Our custom dashboards enable data-driven decision-making and facilitate seamless workflows, fostering transparency and trust through the efficient flow of information.
Whistleblower Policy: Our commitment to upholding integrity, transparency, and good overnance in every facet of our business.

BEING GPTW CERTIFIED

Piramal Finance is a Great Place To Work-Certified™ organisation, demonstrating our commitment to foster a positive culture and creating a workplace where employees feel valued and engaged, with over 85% of employees having positive perception for the organisation’s culture. We have created a Great Place To Work for our employees by excelling in the five dimensions of a High-Trust, High-Performance Culture™ – Credibility, Respect, Fairness, Pride and Camaraderie.

BUILDING AND NURTURING TALENT

We are committed to fostering an environment that promotes talent development and wellbeing across our Retail, Wholesale, Alternatives businesses and our support functions. We are dedicated to empowering our workforce, ensuring they have the resources, opportunities, and encouragement to grow both personally and professionally. Some initiatives that are testament to our goals are the following:

Talent Management

With robust processes and digital systems in place, we strive to identify, develop and nurture high-potential talent for leadership positions.

As part of our talent development programme, this year, we identified and groomed several high-potential employees through our flagship top talent programme - ASCEND, involving personalised skill development journeys and exposure to business-critical projects in line with their aspirations.

Hiring Locally, Serving Nationally

As we increase our footprints into the unbanked regions and Tier 2&3 cities in India, we are turning into an ’employment generator’. We make a conscious effort to hire staff locally for our branches in small towns and conduct management training programmes for the staff hired in these regions. This is aimed at creating employment in small towns with limited job opportunities.

Learning & Development

We recognise the pivotal role of learning in transforming, growing, and ensuring the success of both our people and our business makes a significant impact. This drives our strong dedication to learning and development aligned with our core Values of Knowledge and Impact. Each learning intervention has not only equipped our employees with new skills but also propelled our business forward, thereby creating an impact.

Piramal Learning University (PLU) stands as our flagship brand for learning and development within the Piramal Group. At PLU, we go beyond traditional learning approaches, encouraging employees to actively engage in the learning ecosystem through peer learning, coaching, mentorship and action learning projects.

To enhance employee development, we have partnered with leading learning management platforms. Additionally, we also offer over 60,000 courses for our entry-level staff and provide over 10,000 courses for corporate employees at all managerial levels.

We ensure diverse interventions for employees at every level across all verticals and functions within the organisation. Some initiatives span our Retail, Wholesale, Alternatives business, and Partner functions, providing comprehensive and tailored development opportunities for all.

Wholesale Learning Academy:With an aim to equip our future leaders with the right knowledge and skills, we launched the RE Accelerator Programme (REAP) under the Wholesale Learning Academy. This comprehensive certification journey was meticulously crafted to deepen our employees’ expertise in real estate financing.
Alternatives Academy:Our commitment to individualised learning was exemplified by the launch of Individual Learning Cards through the Alternatives Academy. By offering tailored learning experiences and facilitating diverse group and individual programmes, we ensured that every employee had access to personalised growth opportunities tailored to their unique aspirations and learning styles.
Ways of Working:Embarking on a transformative journey within our Internal Audit department under the Ways of Working framework exemplifies our proactive approach towards operational excellence. By embracing innovative methodologies and refining our internal processes, we have not only optimised efficiency but also enhanced our overall organisational agility.
Masterclass and Leader Connect Series:The Masterclass and Leadership Series served as a beacon of inspiration, offering enlightening sessions on an array of pertinent topics ranging from economic insights to efficiency enhancement, agile methodology and many others.
First Time Managers:Recognising that effective leadership is fundamental to driving organisational growth, we launched the First Time Managers initiative. Designed to equip emerging leaders with the requisite skills and acumen, this programme has not only enhanced managerial efficacy but has also cultivated a pipeline of capable leaders poised to steer us towards future success.
ASPIRE – Leadership Development Programme:A learning journey tailored for 40+ Zonal Heads, uniquely addressing the specific challenges and opportunities within the organisation. This distinctive programme unfolded in three meticulously crafted modules namely Personal Excellence, People Excellence, and Performance Excellence.
AXCELERATE - First Line Manager - Managerial Development Programme:We actively recruit and nurture fresh talent, elevating them to managerial roles. To address the unique challenges they encounter, we’ve launched a dedicated ’First-Line Manager Programme’ across diverse teams. This initiative is designed to equip emerging leaders with the skills and insights essential for success in their managerial roles. We have trained more than 1,500 managers pan-India as a part of this journey.
Data Science Academy - Fresher and existing talent development (technical upskilling):The Data Science Academy (DSA) stands as a specialised training institution exclusively tailored for the Business Intelligence and Analytics (BIU) department. With a focus on cultivating a best-in-class agenda, it is a pivotal resource for honing the skills and knowledge essential for success in the dynamic field of business intelligence. Through a thoughtful blend of in-person and online training sessions and workshops, DSA ensures that its workforce is equipped with the latest industry insights, tools, and techniques.
Credit Academy:We envision our Credit Team as a pivotal force in making accurate lending decisions and boosting business growth. In line with this vision, the establishment of the Credit Academy becomes imperative, aiming to implement a standardised learning process.
Piramal Learning University - Virtual Campus:Piramal Learning University’s Virtual Campus (PLU-VC) is a robust online learning platform catering to diverse skill domains. It extends its offerings to collaboration, personal effectiveness, managerial skills, leadership development, conflict management and much more.
Skill Wallet - Learning Reward System:Skill Wallet is a dynamic approach to foster a culture of continuous learning in Retail Finance. Launched in November 2023, through our in-house learning platform Piramal Learning University (PLU) - Virtual Campus, Skill Wallet introduces a gamified learning experience. Learners will be able to visualise their earned credits via the Skill wallet widget over our Piramal Learning University - Virtual Campus in our LMS.
Piramal Learning Fest:The Piramal Learning Festival aims to cultivate a culture of continuous learning. The learning festival is a unique initiative spread across two days that allows employees to consume a variety of value-added content virtually

Engaging Corners of Learning Fest:
- Skill Café: Offered targeted sessions, enhancing professional skills.
- Wellness Corner: Dedicated space delving into essential topics related to personal wellness.
- Inspirational & Recreational: Motivational insights, including a Fireside Chat with prominent celebrities.
- Culture Corner: Covers the various aspects of culture and what drives success at Piramal Finance, including a fireside chat with prominent leaders.

The Piramal Learning Festival 2024 saw a total digital footprint of nearly 10,000 participants across 21 sessions over 2 days, supplemented by additional attendees from branches, regional offices, and various locations on both days. The sessions encompassed a blend of inspiration, wellness, skill-building, and culture.

CREATING A CULTURE OF EMPOWERMENT AND EQUALITY

Diversity, Inclusion, Belonging & Accessibility

PEL is dedicated to fostering inclusivity, prioritising diversity, equity and inclusion in talent acquisition to achieve gender balance and equal opportunities. We aim to cultivate a workplace where every individual can excel and assume leadership roles, encouraging diverse perspectives to flourish. Our commitment to diversity, inclusion, belonging, and accessibility (DIBA) extends beyond our organisation, valuing insights from customers, partners, and communities to enrich our culture and drive innovation.

To enhance employee performance and empower individuals, we implement programmes that unlock their full potential. Recognising the digital gap in rural areas, we launched a programme to support women in these regions, providing opportunities to enhance their computer skills and navigate the digital landscape, fostering personal and professional growth. This initiative was conducted in collaboration with Piramal Foundation.

Our dedication to inclusivity is reflected in several pioneering initiatives aimed at promoting DIBA across our workforce. Some of the initiatives are:

HR Academy - Unconscious Bias:Recognising the influential role of our HR team in shaping our organisational culture, we launched a groundbreaking programme on Unconscious Bias. This initiative equips our HR professionals with the mindset and awareness necessary to cultivate an inclusive workplace, laying the foundation for a more diverse and equitable workforce.
Inclusive Policies:Our system now incorporates partner details, with inclusive Mediclaim policies covering LGBTQIA+ partners and gender-agnostic POSH (Prevention of Sexual Harassment) policies.
LGBTQIA+ Internships:To promote inclusivity, we have launched internships specifically for LGBTQIA+ individuals.
Pride Month Sensitisation Sessions:To further promote understanding and empathy, we conducted sensitisation sessions during Pride month. These included leadership training, a session by Ms. Radhika Piramal, a sensitisation webinar for all employees, and a Human Library event aimed at fostering empathy and understanding across our organisation.
Piramal Empowered Networks (PENs):We have three Employee Resource Groups called Piramal Empowered Networks (PENs). Piramal Empowered Networks are voluntary, employee-led groups designed to cultivate inclusivity in our workplace. These groups provide a platform for employees who share common interests, characteristics, or affinities to support one another and raise awareness. Our aim is to foster a safe and inclusive environment where every employee can bring their whole selves to the table.
- Pride PEN: Celebrating and supporting LGBTQIA+ employees and allies, while promoting awareness and advocating for equality.
- EmpowerHer PEN: Empowering women in the workplace by offering support, mentorship, and opportunities for growth.
- PWD PEN: Working towards creating a more accessible workplace for individuals with diverse abilities.
Endorsing Women Empowerment:We are dedicated to continuously empowering our women employees, ensuring they have equal opportunities to excel. By breaking down gender barriers and promoting gender equality, we have fostered an environment where our women colleagues can exercise their rights, make informed decisions, and contribute actively to our organisational goals and societal betterment.
Promoting “Maitreyi” branches:We have launched 6 all-women branches called ‘Maitreyi’ across various cities in India. ‘Maitreyi’ holds great significance as it represents a wise, intelligent, and knowledgeable lady, embodying the Company’s belief in the remarkable talent and potential of women professionals who will shape their own destinies while serving customers’ financial needs.

EMPLOYEE ENGAGEMENT

Project Neev is a collaborative effort between Retail Finance and Bharat Collaborative team of Piramal Foundation to work together in aspirational districts of India. The project’s aim is to understand each other’s work through immersion visits and create impact projects across 4 themes of technology, middle management, employability, and analytics. During immersion, the Retail Finance team visited aspirational districts to gain a better understanding of the work being done by Piramal Foundation embracing the spirit of “Sewa Bhav” with open hearts.

The High Voltage Group is established to facilitate and coordinate social and cultural activities throughout all our offices and branches. Our goal is to enhance employee engagement by empowering businesses. By granting each branch discretionary powers and a dedicated budget to plan their own activities, we ensure that employees can celebrate their culture, important national events, and promote health awareness.